Capital Management

OEL about to report annual results - Sept 27th?
They look like they have a reasonable net cash balance as at 30/6, and accruing more on a daily basis..
Debt repaid shortly, and end of the oil; hedges.
Gas ans oil prices coming off highs.
The buring question is
Will they put some cash into shareholder's pockets?
If yes, capital return would be the most logical, but maybe an unfranked dividend/conduit foreign income (no withholding tax for major shareholder)..
Pillar 3 in Annual last year referred to "vash-t-shareholders" as one option.
Not mentioned in the latest quarterly, so probably not?

Cash distribution would be very good for the share price.
Specifically, a distribution, say $0.0015+/-, would show up on fundamental scans, bringing OEL to teh attention of the Fundamental Investor community.

Unfortunately, I get the impression that an acquisition and/or new farm-in is more likely.
Hopefully they can do both if they extended the MacQuarie facilty (on better terms).

Time will tell.


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